ONGC Videsh team inspects Venezuelan oil and gas assets
ONGC Videsh (OVL), the global arm of India's Oil and Natural Gas Corporation, just sent a team to Venezuela to review its oil and gas assets.
This visit comes after the US cleared OVL to restart operations in July 2026.
The team is spending a week inspecting San Cristobal field and Carabobo-1 project/block, where OVL holds significant stakes.
ONGC Videsh seeks Venezuelan operations control
OVL is also meeting Venezuelan energy officials to work out new agreements covering how these projects run and how finances are managed.
Rajarshi Gupta, OVL's managing director, shared that they're interested in taking over operations at both sites for bigger production gains.
The timing lines up with a big jump in Venezuelan oil exports to India, which more than doubled last August as refiners were forced to cut back as Ukrainian attacks disrupted Russian oil flows.